However, S&P has said it could move "even if a debt-reduction deal is met and the $14.29 trillion federal debt ceiling is raised. S&P has cited $4 trillion in debt reduction as a figure that would be appropriate for keeping the triple-A rating. S&P has also said it wants a credible agreement, meaning one that has bipartisan support."

Americans could have their homes foreclosed upon, if the Treasury Department cannot make bond payments for Fannie Mae or Freddie Mac. S&P has also place a negative credit watch on subsidized public housing and mortgage-backed securities. The federral government took more bad mortgages to bailout banks. This is many homeowners at potential risk.